Groq CEO Jonathan Ross Predicts AI Will Create Labour Shortage
Groq CEO Jonathan Ross has made a bold prediction about artificial intelligence. He says AI will not cause job losses as many fear. Instead, it will create a labour shortage. Ross shared his views in a video on social media platform X.
AI to Drive Deflation and Reduce Costs
Ross explains that AI will bring massive deflationary pressure. This means prices for many things will drop dramatically. He gives examples like coffee and housing. These items will cost less because AI improves efficiency.
Robots will farm coffee more efficiently. Better supply chain management will cut costs. As a result, people will need less money to maintain their standard of living. This economic shift could change how we work and spend.
People Will Work Fewer Hours
The Groq CEO believes people will work less in the future. They may work fewer hours each day. Some might even retire earlier. With lower costs, less income will be required to support lifestyles.
Ross also predicts people will opt out of the economy more. This means they might choose to work less or pursue other interests. AI's efficiency gains could free up time for personal activities.
New Jobs and Industries Will Emerge
History shows that technology creates new opportunities. Ross points to agriculture as an example. A century ago, 98% of the US workforce was in farming. Today, it is just 2%. The other 96% found different jobs.
AI will follow a similar path. It will eliminate some roles but create new ones. Ross says we cannot even imagine the jobs that will exist in 100 years. Software development, for instance, did not exist a century ago.
The Rise of Vibe Coding
Ross mentions vibe coding as a trend. This allows non-technical people to build projects using natural language prompts. They do not need to know coding languages like Python or JavaScript.
Generative AI has popularized this approach. Tech companies encourage vibe coding to speed up development. Microsoft CEO Satya Nadella says AI writes nearly 30% of their code. Google's Sundar Pichai reports AI contributes over 25% of new code.
NVIDIA's Deal with Groq
In December last year, NVIDIA agreed to pay $20 billion to license Groq's AI inference hardware. NVIDIA, valued at $5 trillion, also recruited several Groq employees, including CEO Jonathan Ross.
This deal comes amid concerns about NVIDIA's dominance in the AI chip market. Despite increased AI investments, the industry faces a shortage of skilled talent. Ross's views highlight the ongoing debate about AI's impact on employment.
